FLOWS
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Thursday, 11 Oct., 12
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BUY
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SIME,
UMW, PBBANK
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SELL
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PERISAI,
MRCB, JCY
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Stock
Alert
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STOCK
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DATE
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PRICE
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BUY/SELL
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TARGET PRICE
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GENTING (3182)
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10/10/2012
|
RM8.65
|
LT Accumulate
|
RM10.20
|
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Price to book ratio has come down to levels that are
too cheap to ignore, at 1.6x. This represents a level not seen since Jan 2010
when the stock was sold down to RM6.20 levels. Recent news flows have also
been more positive with the sale of Genting Sanyen at RM2.5bn to 1MDB which
should come in handy with its expansion plans into Indonesia Greenfield power
projects. It has also announced that Genting Singapore sale of its stake in
Echo Entertainment Group Ltd to Genting HK removing fears that it would get
caught up in an expensive tussel for control in Echo. The opening of the
Marine Park in Resorts World Singapore in December should help add to the
attraction of the integrated resort and help it maintain its market
share in Singapore. Long term accumulate with an immediate upside target of
RM9.12 and a medium term target of RM10.20 on a normalized P/Bk ratio.
(DN)  |
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GLOMAC (5020)
|
10/10/2012
|
RM0.815
|
Mid Term BUY
|
RM0.865
|
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Glomac recent results came in
within expectation with a net profit of RM21m, 18% yoy, -5.6% qoq).
Historical data shows that sales made in 2h is typically stronger than 1h.
Key earnings contributors include Glomac damansara, Saujana rawang and Bandar
Saujana Utama. Glomac started this quarter with a boost as we see Glomac
Puchong sold out after an oversubscribed ballot exercise in Sept. The project
worth RM75mil in GDV orRM420 psf is expected to appreciate inline with the
LRT extension in 2015. We continue to like Glomac as it’s currently trading
at cheap valuations of 5.4x FY13 PER, pays decent dividend of 5.6% and a
possible privatization story in its pipeline. Chart forms a reverse head and
shoulder with a 4.5sens upside from 0.82 cents. Mid term buy.
(RL)  |
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Calls
for OCT Week 1 / Week 2
|
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STOCK
|
Initiation Dates
|
PRICE
|
BUY/SELL
|
TARGET PRICE
|
LAST PRICE
|
% Change since Initiated
|
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WASEONG (5142)
|
4/10/2012
|
RM1.76
|
ACCUMULATE
|
RM1.92
|
RM1.74
|
-1.14%
|
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HIAPTECK (5072)
|
4/10/2012
|
RM0.49
|
Long Term BUY
|
RM0.60
|
RM0.47
|
-4.08
|
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HSL (6238)
|
5/10/2012
|
RM1.57
|
Trading BUY
|
RM1.80
|
RM1.54
|
-1.91%
|
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DRBHCOM (1619)
|
5/10/2012
|
RM2.39
|
Trading BUY
|
RM2.70
|
RM2.37
|
-0.84%
|
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QL (7084)
|
8/10/2012
|
RM3.20
|
Trading BUY
|
RM3.50
|
RM3.21
|
0.31%
|
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HLI (3301)
|
8/10/2012
|
RM4.70
|
BUY
|
RM5.12
|
RM4.86
|
1.94%
|
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UEMLAND (5148)
|
9/10/2012
|
RM1.83
|
Trading BUY
|
ST RM2.00
|
RM1.77
|
-3.3%
|
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MUHIBAH (5703)
|
9/10/2012
|
RM0.93
|
Trading BUY
|
RM1.11
|
RM0.93
|
0.00%
|
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KOSSAN (7153)
|
10/10/2012
|
RM3.05
|
BUY
|
RM4.00
|
RM3.11
|
2.00%
|
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BENALEC (5190)
|
10/10/2012
|
RM1.30
|
Trading BUY
|
RM1.25
|
RM0.93
|
-4.00%
|
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Thursday, October 11, 2012
Morning Call | 11 Oct 2012
